Fiscal Note
Fiscal Note: This contract will provide for guaranteed revenue of up to $825,000, a 40% revenue sharing formula (which applies to revenue in excess of the minimum guarantee), and $225,000 in media trade for a minimum value of up to $1,050,000* over a three-year period during which full wraps may be sold and
evaluated, and with a single option to extend the contract for a three-year period with additional guaranteed revenue. The additional guaranteed revenue will vary, depending on whether or not full wraps may continue to be sold. It is anticipated that in 2007 revenues under this contract will yield an estimated $250,000 to Metro Transit, as compared to $380,000 included in the 2007 Metro Transit Adopted Operating Budget. Therefore, the Metro Transit 2007 budget may fall short in this revenue category by an estimated $130,000.
*Assumes a contract is signed on or before 2/1/07
Title
Authorizing the Mayor and City Clerk to enter into an agreement with Adams Outdoor Advertising Ltd. Partnership dba Adams Outdoor Advertising of Madison, for the right to sell and manage interior and exterior transit bus advertising for the transit utility for a three year period, with a single option to extend for three additional years in the third year.
Body
WHEREAS the transit utility requires the services of a qualified firm to oversee the sales and management of interior and exterior transit advertising space; and
WHEREAS a request for proposals was advertised nationally in order to obtain competitive bids for providing this service; and
WHEREAS six proposals for the right to sell and manage interior and exterior transit coach advertising space were received, reviewed, and evaluated using a point system, taking into account the proposers:
responsiveness to the requirements of the request for proposals;
revenue and financial capability;
experience and qualifications related to current and past performance in transit advertising and other out-of-...
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